Does someone explain to me how trading on the 2 exchanges works?...

Does someone explain to me how trading on the 2 exchanges works? Are we and the LSX trading the same set of shares? Or is the company effectively split and there's x amount in each.

I did some analysis once and just based on the average price different I think if you divide the UK shares by 57 (or maybe it was 52) and replace pounds with AUD you get an estimate of the price. However it's not sophisticated as it doesn't take into account the movement in exchange rates.

Does anyone have an idea of how to do a more accurate assessment. I don't even know if every time they dilute the shares with a capital raising is it done evenly across both markets.